UK unemployment fell to its lowest level since 2005

UK unemployment fell to its lowest level since 2005, reaching 5% during the period February-April 2016. The expectations were value to remain at 5.1% as it was in April. The employment grows by 55,000 new hires, below analysts’ expectations for an increase of 60,000 new jobs. The share of employed remained unchanged at a level of 74.2%, which is the highest figure since records began. The total number of employed people are 31.59 million people. The number of unemployed was 1.67 million people, which is 20,000 less compared to the previous three-month period ending in January and 148,000 less than last year. Moreover, the unemployed are at least May 2008.

Hourly wages plus bonuses grow in nominal expressions (without inflation) by 2% on an annual basis and when excluding bonuses the increase was 2.3%.

The unemployed Britons between 16 and 64 years-old are 8.92 million people and economically inactive, not working but also not seeking work. This number is 9000 people more than in the previous quarter and by 124,000 less than a year earlier.

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